The commercial real estate market has experienced massive growth is the past few months in Dubai however, the launch of the recently-announced Emirates Towers Business Park is definitely going to be the most defining commercial development in Dubai in the past decade according to the London-based international property consultant company.
The 5 billion AED project was launched on Tuesday by the ruler of Dubai, His Highness Sheikh Mohammad Bin Rashid Al Maktoum.
The Business Park will add a value to the business area in Dubai and is going to offer a wide palette of top-class office spaces for international firms to relocate their regional headquarters to the largest emirate. The project is expected to be finished in a few years, four to be exact, and is going to be located near Dubai World Trade Centre. between Sheikh Zayed Road and Happiness Road.
The Towers project is the result of a collaboration between Dubai Holding and Dubai International Financial Centre (DIFC) due to an increasing demand for business development in Dubai by various international companies. Naturally, Dubai is the perfect choice for companies to expand their reach and make their presence in the Middle East region visible because of the emirate's strategic location and infrastructure plans.
The park will accommodate 3 five-star luxury hotels; one managed by Jumeirah Group while the other 2 will be managed by global hospitality companies. The development will contain retail spaces for international brands, as well as a multitude of restaurants and cafes. A central area intended for events and an access to public areas and parks will also be available. Furthermore, 2 covered footbridges will be built, linking the project to the DIFC.
The Chairman of Dubai Holding, His Excellency Abdulla Al Habbai, commented on the launch saying that this development is a strategic development of future projects in order to meet the rising demand for integrated business districts.
This project is definitely going to aid the UAE in fixating their position as the leading destination choice for global investments.